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Search Results 0 to 49 of about 95 (some duplicates have been removed)
's to u.s. lawmakers: avert the fiscal cliff, or risk a credit downgrade. >> tom: i'm tom hudson. we're going global with legendary investor mark mobius, franklin templeton's top strategist on the state of emerging marketnow. >> susie: and picture this: the u.s. is just a few years away from being the world's top oil producer, and self-sufficient. we'll tell you who's making that prediction, and investment strategies for your portfolio. >> tom: that and more tonight on "n.b.r."! >> susie: the u.s.'s top-notch credit rating is at risk. that's the warning today from moody's investor's service. the ratings agency told u.s. lawmakers that when it comes to the fiscal cliff, the time to act is now, not next year. moody's said if action on averting the cliff is delayed until 2013, it might downgrade the stellar credit rating on u.s. debt. right now moody's has a negative outlook on the u.s. economy. worries about a fiscal freefall, kept wall street stocks in check: the dow and nasdaq fell a fraction, while the s&p was up a fraction. american businesses are not only concerned about the fisca
. and the white house warned republicans against using the debt limit as leverage to force agreement. >> asking for... that a political price be paid in order for congress to do its job, to ensure that the united states of america pays its bills and does not default for the first time in its history, is deeply irresponsible. >> reporter: at least talks are going on. the speaker and the president spoke by phone for almost half an hour last night. but a first negotiating round between treasury secretary timothy geithner and congressional leaders did nothing to improve the tone on capitol hill. democrats said the ball was in the speaker's court. >> we're saying, extend the tax cuts for the middle class as part of that. we know if we do nothing, the top rates go up. we're waiting for the republicans to come forward with something. that's our proposal, period. >> reporter: no one in washington ever thought negotiations to get past the fiscal cliff would be easy. now, more and more are talking about a rerun of what happened with the tarp bailout bill. first, congress may have to deadlock and go over
can do if the u.s. heads into recession because of the fiscal cliff, bernanke says, not much. >> in the worse case scenario, where the economy goes off the broad fiscal cliff, the largest fiscal cliff, which, according the c.b.o. and our analys, would send the u.s. economy into recession, i don't think the fed has the tools to offset that. >> susie: members of the audience agreed. >> he was very frank in saying, you know, "we can try," he essentially said, "we will try, but we don't have anything in our arsenal that comes close." >> susie: bernanke is already using the weapons in his arsenal to fix the job market, which he said today is still "unhealthy". he also repeated the fed's plan to keep interest rates super low at least into 2015. >> we will want to be sure that the recovery is established before we begin to normalize policy. we hope that such assurances will reduce uncertainty and increase confidence among households and businesses. >> susie: but bernanke gave no hints on when americans can expect to see higher rates. >> the further we go down the road, the question
. >> tom: i'm tom hudson. massive spending cuts and tax hikes are set to hit the u.s. economy on january first. by most estimates if we go over the cliff, the u.s. onomy will plunge into recession. >> susie: we look at the impact of the coming cliff and whether congress and the white house can strike a deal. >> tom: that and more tonight on n.b.r.! it was the chairman of the federal reserve ben bernanke who first called it a fiscal cliff. he described the coming automatic cuts in government spending and increases in taxes as, quote, "a massive fiscal cliff," end quote. here's what he was describing: on january 1, 2013, tax breaks worth $416 billion will expire. spending on things like defense, medicare payments to doctors will be slashed by $65 billion. add it all up and you are talking about cutting roughly half a trillion dollars from the federal budget. the congressional budget office and others warn going over the cliff will send the economy into a recession in the first half of next year. it was congress and the white house that set the deadline in hopes of forcing each other to cut
and led to the worst oil spill in u.s. history. inits guilty ple b.p. saidt deeply regrets the loss of life and almost five million barrels of oil that into the gulf. darren gersh reports. >> reporter: justice department officials hope today's settlement and criminal pleas will bring justice to the families of the men who died when the "deepwater horizon" exploded. >> perhaps the greatest tragedy is that the deaths of the 11 men on board the "deepwater horizon" could have been avoided. the explosion of the rig was a disaster that resulted from b.p.'s culture of privileging profit over prudence. >> reporter: b.p. has agreed to plead guilty to 11 counts of felony manslaughter and one felony count of lying to congress. in addition, two b.p. supervisors on the deepwater rig have been charged with 23 counts of manslaughter. another b.p. executive was charged with lying to congress. b.p. will also pay a record- setting $4 billion in criminal fines and penalties. thrown in with the criminal charges is a civil settlement with the securities and exchange commission. b.p. will pay more than h
is on assignment tonight. a repeated warning to washington-- if the u.s. goes over the fiscal cliff, it would push the economy into a recession. and late today, a top credit rating agency puts the odds of going off the cliff at 15%. plus, how g.o.p. economic policies could change as election day demographics change. that and more tonight on nbr! the u.s. economy would be driven into recession next year if the fiscal cliff is not solved in time. that's the warning again today from the congressional budget office. and the standard and poor's ratings agency said there's an increasing chance we will go over that cliff of tax increases and spending cuts. it puts the odds at 15%. still, s&p is optimistic about a solution, saying "the most likely scenario, in our view, is that policymakers reach sufficient political compromise in time to avoid most, if not all, potential economic effects of the cliff." both s&p and the congressional budget office warned unemployment would go over 9% by the end of next year if the cliff is triggered. those s&p comments hit the market in the last 30 minutes of trading, ext
business. >> reporter: it used to be consumers would buy private label products to clean their bathrooms or wash their clothes. lately, however, they're eating them, too. from sodas to peanut butter, private label brands are shaking off the yuck! stigma and attracting value-conscious customers. and it's the popularity of private label food that's behind the tasty conagra-ralcorp deal. >> private label, otherwise known as store brands, is gaining traction with retailers and shoppers. in fact, store brands have been growing faster than branded food for some time, and we expect that to continue. >> reporter: it might be hard to believe, but store brands now account for about a fifth of all packaged foods sold in the u.s., and at 70 $billion, we're talking big business. conagra is known for name brands like pam, slim jim, and reddi whip, and it also makes some private label goods. ralcorp is the top manufacturer of growing store brand categories such as cereal and pasta, and it supplies companies like walmart and mcdonald's. together, conagra and ralcorp could become a private label powerhou
evening i susie gharib. u.s. stocks are trading again, after hurricane sandy forces an historic two-day shutdown. >> gom: llll street gets back to business, as damage and recovery estimates start to climb, plus,e what it takes to restore power to millions in the northeast. >> susie: and with stocks open for trading, no surpri, home depot was the dow's standout., >> tom: lots ahead, that and more tonight on "n.b.r."! >> susie: an historic day on here on wall street, after the storm of the century knocked down the financial district. us stoto markets resumedtsed operations today after two days in the dark, stocks were little changed: both the dow and the nasdaq fell 10 points, but the s&p 500 gained a fraction. trading here at the new york stock exchange opened without a hitch. th new york stock exchange opened right on time. and as new york's mayor bloomberg rang the opening bell this morning, traders were happy to be back to work. it looked like a normal day, with the buzz of activity, traders milling about. it was anything but normal no one knows that better than larry leibowitz, t
folks are looking for-- and i think all of us agree on this-- is action. >> reporter: speaker pelosi suggested the leaders agree on milestones that will bolster the economy. >> we should have a goal in terms of how much deficit reduction. we should have a deadline before christmas. we should show some milestones of success so that confidence can build as we reach our solution. >> reporter: over the last week markets had grown increasingly pessimistic about avoiding the fiscal cliff. today's tone provided some relief, but it's clear major hurdles remain. >> how much do rates have to go up? what can republicans accept on that and what can the democrats accept in terms of structural reform of entitlements? i think those are the two big sticking points and those are going to remain the sticking points. and if you can figure out what's going to happen there, you can figure out whether there is going to be a deal and when that deal might happen. >> serious negotiating begins after thanksgiving. susie. >> susie: you know, darren, you talked about the mood of cooperation, and listening to th
: this is the calm before the storm at a chicago toys r us. manager danny soro thinks up to 10,000 shoppers will descend on the store when it opens thanksgiving evening, forcing his 300 employees to cut short their holiday. >> we open at 8:00 and we're expecting lines to start from 5 pm to go pretty much throughout the plaza. >> reporter: walmart, kmart, and sears are also opening tomorrow at 8pm; target's opening at 9:00pm. and while opening on turkey day is expected to mean big business for retailers, it's ruffling the feathers of many employees who won't get paid overtime to work the holiday. >> i feel very frustrated about this situation. >> reporter: walmart associate charmaine givens is scheduled to work two eight hour shifts with a three hour break starting tomorrow at 7 pm. >> i'm not gonna do that, no. >> reporter: you're just not going to show up? >> i'm going to call in. i'm gonna call in. i'm not going to just abandon the job. i'm gonna call in and i'm gonna state how i feel. >> reporter: givens hopes to join other walmart emploes around the country in a protest outside the chai
a short- run compromise that will get us past the fiscal cliff. >> reporter: the president made his suggestion for a short-term deal. he urged congress to extend tax breaks for the middle class while they work out a bigger plan for a grand bargain. sylvia hall, "n.b.r.," washington. >> tom: while investors remain focused on the fiscal cliff, a further jump in consumer sentiment helped stocks close in the green today. the university of michigan reuters consumer sentiment index this month rose to 84.9. that's its highest level since july of 2007. the dow added four points, the nasdaq was up nine, the s&p 500 added two points. for the week overall, the dow fell 2.1%. the nasdaq dropped 2.6%. and the s&p 500 is 2.4% lower tonight compared to a week ago. >> reporter: while president obama and house speaker boehner both say they're open to new ideas, wall streeters remain cautious about the fiscal cliff. meridien equity partners' joe greco says the market doesn't expect it to be resolved this year. >> i think we're going to see a push pull back and forth and we're probably not going to se
. tom will be along later in the program. congress officially gets back to preventing the u.s. economy from falling off the fiscal cliff. while washington struggles on a fiscal cliff deal, what should you do about your portfolio? jeff applegate has some answers. he's chief investment officer at morgan stanley smith barney. and home depot hammers home strong gains and lays the foundation for a strong quarter ahead. that and more tonight on "n.b.r." it was another day of cliff- watching here on wall street today. investors and traders are waiting to hear what happens at an important white house meeting on friday between president obama and congressional leaders. they will be talking about ways to solve the so-called "fiscal cliff" dilemma. investors appear cautious about making any big moves until they know whether the cliff will trigger increases in capital gains and dividend taxes. the dow fell almost 59 points, the nasdaq lost 20, and the s&p was down five. meanwhile, in washington, congress returned to work for the first time since september. lawmakers face a long "to-do list," and g
Search Results 0 to 49 of about 95 (some duplicates have been removed)

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